Entrance-exchange structure and method

ABSTRACT

A entrance-exchange structure and method of execution thereof, comprising a house and an activity of uncertain outcome (e.g., game of chance, game of skill, etc.) that is entered by a participant (e.g., a participant such as a player). The house pays the participant a takehome in relevant scrip, or cash and relevant scrip, for an activity entered into by the participant, based on betting by the participant. An existing outside vendor may exchange the participant&#39;s scrip at a scrip-to-items exchange rate for at least one item provided by the outside vendor. The outside vendor may exchange the relevant scrip with the house for cash at an outside-vendor scrip-to-cash exchange rate. The house may also function as a vendor with whom the participant may exchange relevant scrip for cash at a house-vendor scrip-to-cash exchange rate. The relevant scrip is a virtual currency that may be generated by the entrance-exchange structure.

BACKGROUND OF THE INVENTION

[0001] 1. Technical Field

[0002] The present invention relates generally to the field ofactivities, and in particular, to a entrance-exchange structure andassociated method in conjunction with an activity of uncertain outcome.

[0003] 2. Related Art

[0004] In a game of chance such as at a casino, a player of the gamecompetes with the house. The game rules are structured such that theplayer has a chance of winning the game. The player typically derivessatisfaction from the excitement of playing and from not knowing inadvance whether the player will win or lose, and from the possibility ofwinning a large amount of money. The player also derives satisfactionfrom occasionally winning the game. The game would be enriched for theplayer, however, if the player could enjoy other satisfactions oradvantages from playing the game.

[0005] Thus, there is a need for a game-of-chance structure and methodthat provides the player with new satisfactions or advantages that addto, or replace, the satisfactions that the player currently enjoys fromplaying the game of chance.

SUMMARY OF THE INVENTION

[0006] The present invention provides an entrance-exchange structure,comprising:

[0007] scrip; and

[0008] a game of uncertain outcome adapted to be played by at least oneplayer, wherein a house is adapted to pay a player of the at least oneplayer a takehome in a currency for a win of the game of uncertainoutcome by the player based on betting by the player, and wherein thecurrency is selected from the group consisting of cash plus scrip andscrip.

[0009] The present invention provides a method of executing aentrance-exchange structure, comprising:

[0010] participating in a game of uncertain outcome by a first partyselected from the group consisting of a player and a house, wherein thegame of uncertain outcome is being played by the player, wherein a houseis adapted to pay the player a takehome in a currency for a win of thegame of uncertain outcome by the player based on betting by the player,and wherein the currency is selected from the group consisting of cashplus scrip and scrip; and

[0011] dealing with the scrip by the first party, wherein if the firstparty is the player then the dealing by the player comprises receivingfrom the house the takehome for the win, and wherein if the first partyis the house then the dealing by the house comprises giving to theplayer the takehome for the win.

[0012] The present invention provides a virtual currency system,comprising scrip and money,

[0013] wherein the money is at least one of cash and cash equivalent,

[0014] wherein the scrip is generated wholly or in part by aentrance-exchange structure,

[0015] wherein the entrance-exchange structure comprises a game ofuncertain outcome adapted to be played by a player,

[0016] wherein a house is adapted to pay the player a takehome in acurrency for a win of the game of uncertain outcome by the player basedon betting by the player, and wherein the currency is selected from thegroup consisting of cash plus scrip and scrip.

[0017] The present invention provides an entrance-exchange structure,comprising a scrip-to-items exchange rate E^(S→I) _(i) and ascrip-to-cash exchange rate E^(S→C) _(i), such that i is selected fromthe group consisting of 1, 2, . . . , and N:

[0018] wherein N is at least 1;

[0019] wherein a game of uncertain outcome is adapted to be played by aplayer;

[0020] wherein a house is adapted to pay the player a takehome in acurrency for a win of the game of uncertain outcome by the player basedon betting by the player;

[0021] wherein the currency is selected from the group consisting ofcash plus scrip and scrip;

[0022] wherein N outside vendors exist;

[0023] wherein the player may exchange a portion of the scrip with theoutside vendor V_(i) at the scrip-to-items exchange rate E^(S→I) _(i)for at least one item provided by the outside vendor V_(i) such that iis selected from the group consisting of 1, 2, . . . , and N; and

[0024] wherein the outside vendor V_(i) may exchange a percentage of theportion of the scrip for cash at the scrip-to-cash exchange rate E^(S→I)_(i) such that i is selected from the group consisting of 1, 2, . . . ,and N.

[0025] The present invention provides a method of executing aentrance-exchange structure, comprising dealing with a scrip-to-itemsexchange rate E^(S→I) _(i) and dealing with a scrip-to-cash exchangerate E^(S→C) _(i), such that i is selected from the group consisting of1, 2, . . . , and N:

[0026] wherein N is at least 1;

[0027] wherein a game of uncertain outcome is adapted to be played by aplayer;

[0028] wherein a house is adapted to pay the player a takehome in acurrency for a win of the game of uncertain outcome by the player basedon betting by the player;

[0029] wherein the currency is selected from the group consisting ofcash plus scrip and scrip;

[0030] wherein N outside vendors exist;

[0031] wherein dealing with the scrip-to-items exchange rate E^(S→I)_(i) comprises permitting, by outside vendor V_(i), the player toexchange a portion of the scrip with the outside vendor V_(i) at thescrip-to-items exchange rate E^(S→I) _(i) for at least one item providedby the outside vendor V_(i) such that i is selected from the groupconsisting of 1, 2, . . . , and N; and

[0032] wherein dealing with the scrip-to-cash exchange rate E^(S→C) _(i)comprises exchanging a percentage of the portion of scrip from theoutside vendor V_(i) for cash at the scrip-to-cash exchange rate E^(S→C)_(i) such that i is selected from the group consisting of 1, 2, . . . ,and N.

[0033] The present invention provides an entrance-exchange structure,comprising:

[0034] scrip; and

[0035] an activity of uncertain outcome adapted for at least oneparticipant, wherein a house is adapted to pay a participant of the atleast one participant a takehome in a currency for at least onepotential outcome of the activity of uncertain outcome, based onentrance by the participant in relation to the activity, and wherein thecurrency is selected from the group consisting of cash plus scrip andscrip.

[0036] The present invention advantageously provides a entrance-exchangestructure that provides the player with new satisfactions or advantagesthat add to, or replace, the satisfactions that the player currentlyenjoys from playing an activity of uncertain outcome (e.g., a game ofuncertain outcome). For example, the entrance-exchange structure may beconfigured so that the player is, on the average, able to advantageouslyconvert a given amount of cash into relevant scrip and then redeem therelevant scrip for items (e.g., goods, merchandise, real property,different scrip, etc.) from a vendor, wherein the items have a greatermonetary value than does the given amount of cash.

[0037] The entrance-exchange structure of the present inventionadvantageously enables the house to be profitable while providing saidsatisfactions to the player.

[0038] The entrance-exchange structure of the present inventionadvantageously generates a virtual currency in the form of the scrip,wherein the virtual currency conveniently facilitates the redemption ofthe items from the vendor.

[0039] The activity of uncertain outcome of the present invention mayadvantageously be a positive-sum game.

BRIEF DESCRIPTION OF THE DRAWINGS

[0040]FIG. 1 depicts a entrance-exchange structure with a player, ahouse, and an outside vendor, in accordance with embodiments of thepresent invention.

[0041]FIG. 2 depicts a entrance-exchange structure with a player and ahouse such that the house also functions as a house vendor, inaccordance with embodiments of the present invention.

[0042]FIG. 3 is a table illustrating a first example of a positive sumgame with an outside vendor, in accordance with embodiments of thepresent invention.

[0043]FIG. 4 is a table illustrating a second example of a positive sumgame with an outside vendor, in accordance with embodiments of thepresent invention.

[0044]FIG. 5 is a table illustrating a first example of a positive sumgame with a house vendor, in accordance with embodiments of the presentinvention.

[0045]FIG. 6 is a table illustrating a second example of a positive sumgame with a house vendor, in accordance with embodiments of the presentinvention.

DETAILED DESCRIPTION OF THE INVENTION

[0046] In a conventional game of uncertain outcome, a player of the gamemay receive an expected net payoff of X dollars for each dollar bet,wherein X depends on the “odds” (e.g., the probability of winning thegame). For example, X=0.95 means that the player receives an expectednet payoff of 95 cents for each dollar bet. Note that the bettingestablishment is also called the “house.” The words “dollar” and “cent”are each used herein generically to represent any recognized cashcurrency such as the American dollar, American cent, Japanese yen,English pound, etc. Similarly, the words “cash” stands for anyrecognized cash currency such as the American dollar, American cent,Japanese yen, English pound, etc.

[0047] With the present invention, the player receives an expected netpayoff of C dollars of cash and S units of relevant scrip for eachdollar bet such that 0≦C≦1 and S>0. “Relevant scrip” is defined herein ascrip that is relevant to the situation or purpose being described,since as will be explained infra the present invention describes manydifferent types of scrip (bettable scrip, non-bettable scrip,conditional scrip, unconditional scrip, etc.), and for the situationdescribed above, the S units of relevant scrip may comprise some typesof scrip but not other types of scrip. In general unless statedotherwise, the word “scrip” is understood herein to mean “relevantscrip.” The case of C=1 may be relevant when, inter alia, the house hasdecided to give the player free relevant scrip and thus executesreturning to the player the same amount of cash that the player actuallybets. S embodies a “virtual currency” that is exchangeable for items(e.g., goods, services, real property, different scrip, etc.) at variousoutside vendors, or is exchangeable for items from the house if thehouse functions as a house vendor, or both. The term “takehome” denotesa net amount (e.g., C and S combined) for each dollar bet that theplayer takes away after any house commission has been deducted from thepayout or separately paid by the player. Generally, “takehome” is theactual amount of currency received from the game after subtracting allcommissions, fees and payments owed to a player from entering andplaying the game (see infra for a formal definition of “entering”). Forexample, if a player bets one dollar and wins, and if for the dollar betthe cash payout is 90 cents, the house cash commission is 5 cents, thescrip payout is 20 cents, and the house scrip commission is 1 cent, thenthe player actually receives a takehome (after house commissions havebeen deducted or paid) of 85 cents in cash and 19 cents in relevantscrip.

[0048] For purposes of clarity, the term “outside vendor” denotes avendor who is not the house, the term “house vendor” denotes a vendorwho is also the house, and the generic term “vendor” denotes either anoutside vendor or a house vendor. There must be at least one vendor,which means that a house vendor exists, at least one outside vendorexists, or both a house vendor and at least one outside vendor exist.Thus if there are N outside vendors, then the house may be the onlyvendor such that N=0, the house may be a vendor along with the N outsidevendors such that N≧1, or the house may not be a vendor and the Noutside vendors exist such that N≧1.

[0049] Examples of goods include, inter alia, food, liquor, automobiles,appliances, clothing and jewelry. Examples of services include, interalia, entertainment, lodging, travel, spa usage, Internet rights, andtelephone usage. Examples of real property include, inter alia, a parcelof land, a residential building, and a commercial building. If anoutside vendor exists, then said outside vendor may have a relationshipwith the house such that the outside vendor permits the holder of therelevant scrip to use the relevant scrip to purchase items offered forsale by the outside vendor, provided that the player is using relevantscrip to purchase items from the vendor. The scrip is “relevant” for usewith a given outside vendor if the scrip may be used to purchase itemsfrom the given vendor. Note that some relevant scrip may be used only atcertain vendors or in accordance with certain conditions, as will bediscussed infra, and is thus not necessarily relevant.

[0050] If a house vendor exists, then the house has agreed to permit theholder of the relevant scrip to use a relevant portion of the relevantscrip to purchase items from the house. Note that a player of the gamecan bet with cash (or cash equivalent such as gaming tokens, chips,credit card, ATM card, etc.), relevant scrip (e.g., bettable scrip),etc. The bettable scrip may be absolutely bettable or conditionallybettable. The conditionally bettable scrip is bettable if a condition issatisfied. The condition may comprise, inter alia, a vendor-dependentcondition (e.g., the outside vendor must be an outside vendor A or anoutside vendor B), a time-dependent condition (e.g., the bettable scripis bettable only between date A and date B such as between Dec. 31, 2001and Apr. 30, 2002), or a game-dependent condition (e.g., the bettablescrip must have resulted from winning a roulette game; the bettablescrip can be wagered at only a specific game such as roulette or a slotmachine), etc. Note that the scope of the present invention alsoincludes relevant scrip that is non-bettable.

[0051] C and S do not represent a takehome in an individual game, sincea player of the game does not necessarily win each game that the playerparticipates in. For each 100 games played, the player will win, on theaverage, 100P games where P is the probability of winning eachindividual game of the 100 games. Note that the 100 games may not be thesame type of game. For example, some of the 100 games may be Black-Jack,other games may be Craps, and still other games may be Roulette. In themore general case in which the probability of winning an individual gamevaries (i.e., P is not constant), P is an average probability; e.g., Pis Σ_(i)/100 in the preceding example, wherein Σ_(i) is a summation ofP_(i) from i=1 to i=100, and wherein P_(i) is the probability of winninggame i (i=1, 2, . . . , 100). As an example, assume that P has aconstant value of 0.10, and that a player receives a takehome of $8 incash and 2.50 in relevant scrip units for each $1 bet in each game thatthe player actually wins. If the player starts playing with bettingcapital of $1000 and bets $100 in each game, then on the average theplayer will win 1 out of 10 games played and when the player wins, theplayer will receive $800 in cash and 250 units of relevant scrip as areturn on the $100 winning bet. In the 10 games played, on the averagethe player will lose $900 in the 9 of the 10 games and will win $800 incash and 250 units of relevant scrip in 1 of the 10 games. In thisexample, C=0.80 and S=0.25 based on the 9 losing games and on the 1winning game for the cumulative $1000 of money bet in the 10 games(i.e., C={fraction (800/1000)} and S={fraction (250/1000)}). Thepreceding scenario is mathematically equivalent to a situation in whichthe player always wins (e.g., in every game played) and receives atakehome of $0.80 (i.e., 80 cents) in cash and 0.25 unit of relevantscrip for each dollar bet in each game played. Thus C and S, which aredefined as expected average values that result from given winningprobabilities P or P_(i), could be mathematically simulated by assumingthat the player win in every game and that C and S is returned to theplayer for each dollar bet in every game.

[0052] The following example illustrates several aspects of the presentinvention. Consider a game of uncertain outcome at a house, wherein theprobability of winning and the takehomes to game players are structuredsuch that C=0.80 and S=0.25. For simplicity, assume the mathematicalmodel in which the player wins every game and receives $0.80 in cash and0.25 units of relevant scrip for each $1 of cash bet. Further assumethat the relevant scrip is not bettable. As explained supra, thismathematical model is equivalent to the more general case in which theprobability of winning an individual game is less than or equal to 1.Each such game may be viewed as an iteration of a mathematical sequence,as follows. Assuming that the player starts betting with $1000 and betswith the available dollars of rebettable currency at each iteration, theplayer will bet the $1000 at the first iteration and receive a return of$800 in cash and 250v of relevant scrip, since 0.80×1000=800 and0.25×1000=250. The symbol “v” denotes a unit of virtual currency or,equivalently, a unit of relevant scrip. At the second iteration, theplayer bets the $800 of cash and receives a return of $640 in cash and200v of relevant scrip, since 0.80×800=640 and 0.25×800=200. At thethird iteration, the player bets the $640 of cash and receive a returnof $512 in cash and 160v of relevant scrip, since 0.80×640=512 and0.25×640=160. The iterations form a geometrical series which convergesto the result of zero dollars of cash and 1250v units of relevant scrip.Generally, if the player starts betting with D dollars of cash (D=$1000in the preceding example) and bets in accordance with the geometricseries described supra, then the player will end up with zero dollars ofcash and D×L units of relevant scrip, wherein L is called a “limitingscrip takehome” and is calculated according to L=S/(1−C) if C/S isconstant. Thus in the preceding example of sequential betting, L=1.25(i.e., 0.25/(1−0.80)) and D×L=1250v (i.e., 1000×1.25). Thus, thepreceding example illustrates that the expected return to the player(i.e., 1250v relevant scrip) may exceed the initial betting capital ofthe player (i.e., $1000) depending on the exchange rate between cash andscrip as will be discussed infra.

[0053] The limiting scrip takehome in the preceding example assumes thatC/S is constant and that S is completely non-bettable, which representsimplifications that may not always apply. For example, C and S may varywith the type of game played, S may be wholly or partially bettable,and/or C/S may be iteration-dependent during a betting sequence in whichthe player varies the type of game played or plays a single game inwhich C/S varies: with time, with iteration, randomly, or with othercircumstance. Thus, the limiting scrip takehome L may differ fromS/(1−C) if C/S is not constant.

[0054] In the preceding example, the player started with $1000 in cashand ended up with 1250v of relevant scrip. The player can redeem therelevant scrip at any vendor that exists (e.g., an outside vendor thatexists or a house vendor that exists). An outside vendor may permit theholder of the relevant scrip to use the relevant scrip to purchase itemsoffered for sale by the outside vendor at a scrip-to-items exchange rateE^(S→I), wherein E^(S→I) is a dollar value of 1 unit of relevant scripwhen the relevant scrip is used to purchase items offered for sale bythe outside vendor at retail value (e.g., at a market price that awilling buyer would pay for the item(s)). As a first example, ifE^(S→I)=1.10 at a given outside vendor then the 1250v of relevant scriphas a dollar value of $1375 (i.e., 1.10×1250) for purchasing itemsoffered for sale by the given outside vendor. As a second example, ifE^(S→I)=1.00 at a given outside vendor then the 1250v of relevant scriphas a dollar value of $1250 (i.e., 1.00×1250) for purchasing itemsoffered for sale by the given outside vendor. As a third example, ifE^(S→I)=0.90 at a given outside vendor then the 1250v of relevant scriphas a dollar value of $1125 (i.e., 0.90×1250) for purchasing itemsoffered for sale by the given outside vendor. As a fourth example, ifE^(S→I)=0.80 at a given outside vendor then the 1250v of relevant scriphas a dollar value of $1000 (i.e., 0.80×1250) for purchasing itemsoffered for sale by the given outside vendor. As a fifth example, ifE^(S→I)=0.70 at a given outside vendor then the 1250v of relevant scriphas a dollar value of $875 (i.e., 0.70×1250) for purchasing itemsoffered for sale by the given outside vendor. In the preceding examples,the game of uncertain outcome is “profitable” for the player ifE^(S→I)>0.80 and is “unprofitable” for the player if E^(S→I)<0.80, butis neither profitable nor unprofitable for the player if E^(S→I)=0.80.

[0055] A house vendor may permit the holder of the relevant scrip to usethe relevant scrip to acquire items from the house at a scrip-to-itemsexchange rate E^(S→I) ₀, wherein E^(S→I) ₀ is a dollar value of I unitof relevant scrip when the relevant scrip is used to acquire items fromthe house at retail value (e.g., at a market price that a willing buyerwould pay for the item(s)). The preceding five examples involving anoutside-vendor with the associated scrip-to-items exchange rate E^(S→I)are applicable to a house vendor with the associated scrip-to-itemsexchange rate E^(S→I) ₀, wherein E^(S→I) ₀ is analogous to E^(S→I).

[0056] In general, E^(S→I) may be outside vendor-dependent, sincedifferent outside vendors may have a different relationships with thehouse. For example, a relationship between a first outside vendor andthe house may be independent of a relationship between a second outsidevendor and the house. Thus if there are N outside vendors (N≧1) who haverelationships with the house, then the scrip-to-items exchange rate foroutside vendor V_(i) may be E^(S→I) _(i), wherein S units of relevantscrip is worth C_(i) dollars of cash if used to purchase items from theoutside vendor V_(i), and wherein C_(i)=S E^(S→I) _(i) (i=1, 2, . . . ,N). If the expected takehome for each dollar bet is C dollars and Sunits of relevant scrip, then the “value” of the expected takehomeassociated with outside vendor V_(i) is C+C_(i). Since C_(i)=S E^(S→I)_(i), the quantity C+C_(i) is equal to C+S E^(S→I) _(i), and C+C_(i)represents the “expected return” to the player in relation to outsidevendor V_(i). Thus, the expected return in relation to outside vendorV_(i) is “profitable” to the player if C+C_(i)>1, and is unprofitable tothe player if C+C_(i)<1. Generally, the game of uncertain outcome may beprofitable to the player for some outside vendors and unprofitable forother outside vendors. As a special case, relationships between outsidevendors and the house may exist such that the expected return to theplayer is profitable to the player for all outside vendors (i.e.,C+C_(i)>1 each i of i=1, 2, . . . , N).

[0057] The are various types of such relationships between an outsidevendor and the house. For example, a given outside vendor and the housemay have a contractual relationship that establishes the scrip-to-itemsexchange rate associated with the given outside vendor. As anotherexample, an outside vendor may be a third-party vendor that has nocontractual relationship with the house. The house may be unaware of theexistence of the third-party vendor, and the third-party vendor may beunaware of the existence of the house. The third-party vendor may bewilling to exchange relevant scrip for items that the third-party vendorpossesses or has access to. The third-party vendor may have norelationship with the house having to do with exchanging relevant scripfor items, and the third-party vendor may have no relationship with thehouse that would require the house to exchange for cash relevant scrippossessed by the third-party vendor. Thus the third-party vendor isindependent of the house and operates within the framework of a virtualcurrency system (to be described infra) such that the third party vendormay exchange relevant scrip for cash, cash for relevant scrip, items forrelevant scrip, and/or relevant scrip for items, or relevant scrip fordifferent relevant scrip.

[0058] For a house vendor, S units of relevant scrip is worth C₀ dollarsof cash if used to acquire items from the house. If the expectedtakehome for each dollar bet is C dollars and S units of relevant scrip,then the “value” of the expected takehome associated with house vendoris C+C₀. Since C₀=S E^(S→I) ₀, the quantity C+C₀ is equal to C+S E^(S→I)₀, and C+C₀ represents the “expected return” to the player in relationto house vendor. Thus, the expected return in relation to the housevendor is “profitable” to the player if C+C₀>1, and is unprofitable tothe player if C+C₀<1. As a first special case, the house may structurethe entrance-exchange structure such that: the expected return inrelation to the house vendor is profitable to the player; and theexpected return in relation to outside vendors is profitable to theplayer for each outside vendor that exists. As a second special case,the house may structure the entrance-exchange structure such that: theexpected return in relation to the house vendor is unprofitable to theplayer; and the expected return in relation to outside vendors isprofitable to the player for each outside vendor that exists. As a thirdspecial case, the house may structure the entrance-exchange structuresuch that: the expected return in relation to the house vendor isprofitable to the player; and the expected return in relation to Nexisting outside vendors is profitable to the player for each of Moutside vendors such that 0≦M<N and N≧1. As a fourth special case, thehouse may structure the entrance-exchange structure such that: theexpected return in relation to the house vendor is unprofitable to theplayer; and the expected return in relation to N existing outsidevendors is profitable to the player for each of M outside vendors suchthat 0≦M<N and N≧1.

[0059] Simplification (especially for the holder of the relevant scrip)would be gained if E^(S→I) has a constant value K (e.g., K=1.10)independent of outside vendor, and additional simplification would begained if K=1. For the special case of E^(S→I)=K=1, S units of relevantscrip is worth exactly S dollars if used to purchase items (e.g., goods,services, real property, etc.) offered for sale by the outside vendor.Said simplification of having E^(S→I) equal to the constant value K maybe at the expense of having relationships between individual outsidevendors and the house tailored to the needs and requirements ofindividual outside vendors. Accordingly, the scope of the presentinvention includes both cases: i.e., the case in which E^(S→I) isvariable and outside vendor dependent, and the case in which E^(S→I) isconstant and outside vendor independent.

[0060] An outside vendor V_(i) who acquires relevant scrip in theaforementioned manner may redeem the relevant scrip from the house fordollars of cash in accordance with a scrip-to-cash exchange rate E^(S→C)_(i), wherein each unit of relevant scrip may be redeemed for E^(S→C)_(i) dollars of cash. Thus if E^(S→C) _(i)=0.70, then 1250v of relevantscrip could be redeemed by the outside vendor V_(i) for $875 (i.e.,0.70×1250).

[0061] As an example of how the present invention may benefit theplayer, house, and outside vendor, assume as before that C=0.80 andS=0.25, and that the player starts betting with $1000 and converts the$1000 to 1250v of relevant scrip based on the limiting scrip takehome Lof 1.25. If E^(S→I) _(I)=0.90 for the outside vendor V_(i), then theplayer redeems the 1250v relevant scrip for $1125 (i.e., 0.90×1250) ofitems (e.g., goods, services, real property, etc.) from the outsidevendor V_(i) and thus gains $125 on the $1000 investment, whichrepresents a 12.5% return on the $1000 investment. If E^(S→C) _(i)=0.70for the outside vendor V_(i), then the outside vendor V_(i) redeems the1250v relevant scrip, which the outside vendor received from the player,for $875 (i.e., 0.70×1250) from the house. If the outside vendor V_(i)paid a wholesale price of $675 for the item(s) sold to the player, whichrepresents a 66.7% markup to the retail price of $1125, then the outsidevendor V_(i) achieves a profit of $200 (i.e., $875−$675), whichrepresents a percent profit of 29.6% (i.e., 100×200/675). Thus thefractional markup U_(i) from wholesale price to retail price for outsidevendor V_(i) is 0.667 (i.e., (1125−675)/675)), wherein U_(i) is definedas (retail price−wholesale price)/wholesale price. Lastly, the housereceived $1000 from the player and returned $875 to the outside vendorV_(i) for a dollar profit of $125 and a percent profit of 14.3% (i.e.,$125/$875) for the house. Thus, the present invention may be beneficialto all parties: the player, the house, and the outside vendor, asillustrated in FIG. 3 which will be described infra.

[0062] Since the fractional markup U_(i) from wholesale price to retailprice may vary among outside vendors, especially among outside vendorsof different industries or markets, an outside vendor-dependence ofE^(S→I) _(i) and E^(S→C) _(i) on outside vendor V_(i) providesflexibility that enables all outside vendors to profit from the presentinvention. For example, agreements, if any, between the house andoutside vendors may be individually negotiated between the house and theoutside vendors to arrive at bargained-for values of E^(S→I) _(i) andE^(S→C) _(i) for each outside vendor V_(i) (i=1, 2, . . . , N).

[0063] As stated supra, the scope of the present invention also includesthe possibility that the house functions as a vendor (i.e., the house isa house vendor) by acquiring a capability to provide items (e.g., goods,services, real property, etc.) to the player in exchange for relevantscrip at a scrip-to-items exchange rate E^(S→I) ₀, which is analogous tothe scrip-to-items exchange rate E^(S→I) _(i) relating to the outsidevendors V_(i) as discussed supra. See FIG. 2, to be described infra, fora depiction of the house in the role of a house vendor. For example, thehouse may purchase the goods at a bargained-for price and thus have suchitems available to be exchanged for relevant scrip by the player. Thebargained-for price may be lower than the market price for an item;e.g., the house may purchase items in bulk quantities and thus bargainfor a discount due to the bulk purchase. Accordingly, a fractionalmarkup U₀ can be defined for the house vendor, wherein U₀ is calculatedas a fractional increase from said bargained-for price actually paid bythe house vendor to the retail value (e.g., market price) of a singleitem. The house vendor can exploit U₀ in various ways such as, interalia, using U₀ to generate or increase profitability in relation topaying the player relevant scrip, or relevant scrip plus cash, when theplayer wins the game of uncertain outcome. The house may also exploit U₀by manufacturing items which may be exchanged for relevant scrip; e.g.,said manufacturing of items avoids a middleman which increasesprofitability for the house. To illustrate an advantage of the presentinvention when the house functions as a house vendor, consider theprevious example of assuming as before that C=0.80 and S=0.25, and thatthe player starts betting with $1000 and converts the $1000 to 1250v ofrelevant scrip based on the limiting scrip takehome L of 1.25. IfE^(S→I) ₀=0.90 for the house vendor, then the player redeems the 1250vrelevant scrip for $1125 (i.e., 0.90×1250) of items (goods, services,real property, different scrip, etc.) from the house vendor and thusgains $125 on the $1000 investment, which represents a 12.5% return onthe $1000 investment. If the fractional markup U₀ is 0.50 (i.e., 50%markup), then the house vendor has paid $750 for the $1125 retail valueof the items redeemable to the player with the 1250v of relevant scrip.Since the house received $1000 from the player and paid only $750 forthe items redeemed to the player by the house, the house realize adollar profit of $250 and a percent profit of 33.3% (i.e., $250/$750).Thus, the present invention is beneficial to both the player and thehouse when the house functions as a house vendor.

[0064]FIG. 1 depicts a entrance-exchange structure 10, as describedsupra, in accordance with embodiments of the present invention. The word“exchange” in “entrance-exchange” denotes any of the exchanges of thepresent invention such as exchanges between relevant scrip and cash,cash and items, etc. The entrance-exchange structure 10 includes a house30, a player 20, an outside vendor 40, and a game of uncertain outcome50. The scope of the present invention includes the case in which theoutside vendor 40 exists, as well as the case in which the outsidevendor 40 does not exist.

[0065] The game of uncertain outcome 50 comprises at least one of: agame of chance and a game of skill, or a combination thereof. A game ofchance may include, inter alia: a casino game such as Black-Jack, Craps,Roulette, or a slot machine; horse racing; dog racing; a card game suchas poker; a sporting event such as football; a lottery; etc. A game ofskill in the context of the game of uncertain outcome 50 may include,inter alia: a game of chess, a card game of skill such as bridge, a gamein which the player 20 is required to correctly solve a mathematicalproblem in a given amount of time; a game in which the player 20 isrequired to drive a golf ball at least a given distance; a competitivecarnival game; billiards; darts; pool; a sporting event such asswimming, basketball, skeet ball; a track competition in which thewinner runs a given distance in less time than the other competingplayers; a game in which the player 20 is required to correctly answermultiple choice questions on any topic (e.g., music, economics,language, movie stars, sports heroes, geography, etc.); testing theresult of completely learning a task; etc. For the present invention, a“contest” is within the scope of “game” in a game of uncertain outcome.For example, several fishermen may compete in a contest, wherein thewinner of the contest is the fisherman who catches the largest number offish within a given time interval on a given date.

[0066] The player 20 stands for at least one player who, in playing thegame of uncertain outcome 50, may be engaged in betting or in anotheractivity subject to an uncertain outcome. The game of uncertain outcomemay include one or more other of such players 20. Each such player 20may be a person, an entity (e.g., an organization such as a corporation,church), etc.

[0067] The house 30 may comprise a casino (e.g., a conventional casino,a computer casino), a race track, an person, a plurality of persons, abusiness entity (e.g., a corporation), etc. Note that a computer casinomay include use of an Internet and/or Intranet. The player 20 mayinteract with the computer casino over a data communication medium suchas, inter alia, an Internet, an Intranet, a cable television network, atelephone network, a wide area network, a satellite network, a shortwave radio network, or a combination thereof. The player 20 interactswith the house 30 by engaging in entering (e.g., wagering) 42 in thegame of uncertain outcome 50, and by the house 30 engaging in management44 of the game of uncertain outcome 50. The scope of “network” in thepreceding list of data communication media include, inter alia, a systemof interconnected nodes, two directly-connected nodes or locations, etc.Such engaging in management 44 of the game of uncertain outcome 50 mayinclude establishing the game of uncertain outcome 50 and the rulesthereof, executing the game of uncertain outcome 50, exchanging money ofthe player 20 for chips for playing the game of uncertain outcome 50,etc. The scope of the house includes, inter alia, employees of thehouse, independent contractors with the house, physical facilities ofthe house, etc.

[0068] The outside vendor 40 stands for N outside vendors of any type(e.g., vendors in a contractual relationship with the house; vendorsexchanging relevant scrip, items, and/or cash with the house;third-party vendors; combinations thereof; etc.), wherein N≧0 (i.e., theoutside vendor 40 stands for outside vendor V_(i) for i=1, 2, . . . ,N). Additionally, a house vendor may exist (e.g., if N=0). Each suchoutside vendor 40 sells items (e.g., goods, services, real property,different scrip, etc.), and each such outside vendor 40 may have arelationship with the house 30 as described supra. The outside vendor 40may comprise any person, broker, merchant, business entity, the house30, etc. As a special case, two or more outside vendors 40 may be suchas to not provide a same or essentially similar item or items inexchange for the relevant scrip. This special case may serve as aninducement for outside vendors 40 to participate in theentrance-exchange structure 10, since such outside vendors 40 do nothave to face competition against other outside vendors within theframework of the entrance-exchange structure 10.

[0069] The player 20 and outside vendor 40 exchange relevant scrip 26for items 28 (e.g., goods, services, real property, different scrip,etc.) at a scrip-to-items exchange rate E^(S→I) as described supra. Theoutside vendor 40 and the house 30 may exchange relevant scrip 32 forcash 34 at a scrip-to-cash exchange rate E^(S→C) as described supra.Other exchanges with and amongst outside vendors (e.g., third-partyvendors) may occur such as, inter alia, items for relevant scrip,relevant scrip for items, etc.

[0070] An embodiment of the present invention is a cash-to-scripexchange mechanism E^(C→S) in which a player of the game of uncertainoutcome 50 receives a takehome in relevant scrip, or cash and relevantscrip, and in which the initial cash of the player 20 may be convertedto relevant scrip in the form of the limiting scrip takehome, oralternatively more or less than the limiting scrip takehome.

[0071] If there are no outside vendors 40 (i.e., if N=0), then a housevendor must exist, as explained supra, and FIG. 1 is replaced by FIG. 2in accordance with embodiments of the present invention. In FIG. 2, thehouse 20 is also represented as the house vendor 41, which demonstratesthe dual role of house 20 as a provider of the game of uncertain outcomeand as a vendor. Generally, the vendors of the present invention maycomprise one or more outside vendor 40 of FIG. 1, the house vendor 41 ofFIG. 2, or both.

[0072] Based on FIG. 1, FIG. 2, and on the examples discussed supra,various definitions and relationships of the present invention are asfollows.

[0073] C=units of cash

[0074] S=units of relevant scrip

[0075] N=number of outside vendors, wherein N≧0.

[0076] V_(i)=i^(th) outside vendor(i=1, 2, . . . , N)

[0077] E^(S→I) _(i)=scrip-to-items exchange rate for outside vendorV_(i) (for items provided by outside vendor V_(i) in exchange forrelevant scrip)

[0078] E^(S→I) ₀=scrip-to-items exchange rate for house vendor (foritems provided by a house vendor in exchange for relevant scrip)

[0079] E^(S→C) _(i)=scrip-to-cash exchange rate for outside vendor V_(i)(for cash provided by the house to an outside vendor V_(i) in exchangefor relevant scrip)

[0080] E_(S→C) ₀=scrip-to-cash exchange rate for house vendor (for cashprovided by a house vendor in exchange for relevant scrip)

[0081] L=limiting scrip takehome (equal to S/(1−C) if C/S if isconstant)

[0082] U_(i)=fractional markup from wholesale to retail for outsidevendor V_(i)

[0083] U₀=fractional markup for the house vendor; e.g., fractionalincrease from bargained-for price to market price or fractional increasefrom manufacturing items by house vendor $\begin{matrix}{\Phi_{P,1} = {{percent}\quad {profit}\quad {for}\quad {the}\quad {player}\quad 20\quad {in}\quad {relation}\quad {to}\quad {the}\quad {outside}\quad {vendor}\quad V_{i}}} \\{= {100 \times \left( {{LE}_{i}^{S\rightarrow 1} - 1} \right)}} \\{\Phi_{P,0} = {{percent}\quad {profit}\quad {for}\quad {the}\quad {player}\quad 20\quad {in}\quad {relation}\quad {to}\quad {the}\quad {house}\quad {vendor}}} \\{= {100 \times \left( {{LE}_{0}^{S\rightarrow 1} - 1} \right)}} \\{\Phi_{V,i} = {{percent}\quad {profit}\quad {for}\quad {the}\quad {outside}\quad {vendor}\quad V_{i}}} \\{= {100 \times \left\lbrack {{\left( {1 + U_{i}} \right){E_{i}^{S\rightarrow C}/E_{i}^{S\rightarrow 1}}} - 1} \right\rbrack}} \\{~{\Phi_{H,i} = {{percent}\quad {profit}\quad {for}\quad {the}\quad {house}\quad 30\quad {in}\quad {relation}\quad {to}\quad {the}\quad {outside}\quad {vendor}\quad V_{i}}}} \\{= {100 \times \left\lbrack \left( {{1/\left( {LE}_{i}^{S\rightarrow C} \right)} - 1} \right\rbrack \right.}} \\{\Phi_{H,0} = {{percent}\quad {profit}\quad {for}\quad {the}\quad {house}\quad 30\quad {when}\quad {functioning}\quad {as}\quad a\quad {house}\quad {vendor}}} \\{= {100 \times \left\lbrack \left\{ {{\left( {1 + U_{0}} \right)/\left( {{LE}_{0}^{S\rightarrow I}0} \right\}} - 1} \right\rbrack \right.}}\end{matrix}$

[0084] As a first check on the preceding formulas for the outside vendorexample, discussed supra, of L=1.25, E^(S→I) _(i)=0.90, E^(S→C)_(i)=0.70, U_(i)=⅔=0.667, the percent profits are: Φ_(P,i)=12.5%,Φ_(V,i)=29.7%, Φ_(H,i)=14.3%. As a second check on the precedingformulas for the house vendor example, discussed supra, of L=1.25,E^(S→I) ₀=0.90, U₀=0.50, the percent profits are: Φ_(P,0)=12.5% andΦ_(H,0)=33.3%.

[0085] Based on the preceding definitions, the entrance-exchangestructure 10 is profitable for the player 20 in relation to outsidevendor V_(i) if Φ_(P,i)>0. The entrance-exchange structure 10 isprofitable for the player 20 in relation to the house 30 if Φ_(P,0)>0.The entrance-exchange structure 10 is profitable for the outside vendorV_(i) if Φ_(V,i)>0. The entrance-exchange structure 10 is profitable forthe house 30 in relation to the outside vendor V_(i) if Φ_(H,i)>0. Theentrance-exchange structure 10 is profitable for the house 30 when thehouse 30 functions as a house vendor V_(i) if Φ_(H,0)>0.

[0086] The game of uncertain outcome of the present invention is a“positive sum game” in relation to at least one outside vendors if thecomposite investment of the player, the house, and the at least oneoutside vendor increases. Thus the positive sum game is defined inrelation to a given group of outside vendors such as: in relation to onespecified outside vendor, in relation to all outside vendors, or inrelation to a specified group of outside vendors. For example, if threeoutside vendors V₁, V₂, and V₃ exist, then the game of uncertain outcomeis a positive sum game: 1) in relation to V₁ if the composite investmentof the player, the house, and V₁ increases; 2) in relation to V₁ and V₂if the composite investment of the player, the house, V₁, and V₂increases; 3) in relation to V₁, V₂, and V₃ if the composite investmentof the player, the house, V₁, V₂, and V₃ increases. An example of apositive sum game with one outside vendor, described supra, is shown inFIG. 3. The example of FIG. 3 illustrates a positive sum game becausethe composite Investment Capital of the player the house, and theoutside vendor is increased (i.e., from $2550 to $3000).

[0087]FIG. 3 also illustrates the game of uncertain outcome relating toa “positive participant game” in relation to the outside vendor V_(i).Generally, the positive participant is profitable to each participant,namely the player, the house, and at least one outside vendor. Thus thepositive participant game is defined in relation to a given group ofoutside vendors such as: in relation to one specified outside vendor, inrelation to all outside vendors, or in relation to a specified group ofoutside vendors. For example, if three outside vendors V₁, V₂, and V₃exist, then the game of uncertain outcome is a positive participantgame: 1) in relation to V₁ if the investment of each of the player, thehouse, and V₁ increases; 2) in relation to V₁ and V₂ if the investmentof each of the player, the house, V₁, and V₂ increases; 3) in relationto V₁, V₂, and V₃ if the investment of each of the player, the house,V₁, V₂, and V₃ increases. Mathematically, a positive participant game inrelation to an outside vendor V_(i) is characterized by: Φ_(P,i)>0,Φ_(H,i)>0, and Φ_(V,i)>0. In FIG. 3, the positive participant game isdemonstrated by the fact that the Ending Capital exceeds the InvestmentCapital for each of the player, the house, and the outside vendor. Thus,the entrance-exchange structure 10 may be profitable for each of theplayer, the house 30, and the outside vendor V_(i).

[0088] A positive participant game is a special case of a positive sumgame. Thus, a positive sum game may not be a positive participant gameas illustrated in FIG. 4 in relation to an outside vendor, but apositive participant game must be a positive sum game as illustrated inFIG. 3 in relation to the outside vendor. The example of FIG. 4,although a positive sum game, is not a positive participant game becausethe Ending Capital of the Outside Vendor ($875) does not exceed theInvestment Capital of the Outside Vendor ($900) even though there was a25% markup (i.e., 100×(1125−900)/900) for the item(s) of the example ofFIG. 4.

[0089] The scope of the present invention includes cases in which anytwo of Φ_(P,i), Φ_(H,i), and Φ_(V,i) are each positive such that aremaining one of Φ_(P,i), Φ_(H,i), and Φ_(V,i) is not positive. Thescope of the present invention also includes cases in which any one ofΦ_(P,i), Φ_(H,i), and Φ_(V,i) is positive such that a remaining two ofΦ_(P,i), Φ_(H,i,) and Φ_(V,i) are each not positive. The scope of thepresent invention further includes cases in which each of Φ_(P,i),Φ_(H,i), and Φ_(V,i) is positive.

[0090] The game of uncertain outcome of the present invention is apositive sum game in relation to the house vendor if the compositeinvestment of the player and the house increases. An example with ahouse vendor, described supra, is a positive sum game as shown in FIG.5. The example of FIG. 5 illustrates a positive sum game because thecomposite Investment Capital is increased (i.e., from $1750 to $2125).FIG. 5 also illustrates the game of uncertain outcome relating to a“positive participant game” in relation to the house vendor. As statedsupra, in a positive participant game, the game is profitable to theeach participant, namely the player and the house vendor.Mathematically, a positive participant game with a house vendor ischaracterized by: (Φ_(P,0)>0 and Φ_(H,0)>0. In FIG. 5, the positiveparticipant game is demonstrated by the fact that the Ending Capitalexceeds the Investment Capital for each of the player and the housevendor. Thus, the entrance-exchange structure 10 may be profitable forboth the player and the house 30 when the house 30 functions as a housevendor.

[0091] As explained supra, a positive participant game is a special caseof a positive sum game. Thus, a positive sum game may not be a positiveparticipant game as illustrated in FIG. 6 in relation to a house vendor,but a positive participant game must be a positive sum game asillustrated in FIG. 5 in relation to the house vendor. The example ofFIG. 6, although a positive sum game, is not a positive participantgame, because the Ending Capital of the House Vendor ($1000) does notexceed the Investment Capital of the House Vendor ($1050) even thoughthere was a 7.14% markup (i.e., 100×(1125−1050)/1050) for the item(s) ofthe example of FIG. 6.

[0092] The scope of the present invention includes cases in which anyone of Φ_(P,0), and Φ_(H,0) is positive such that a remaining other ofΦ_(P,0) and Φ_(H,0) is not positive. The scope of the present inventionalso includes cases in both Φ_(P,0) and Φ_(H,0) are positive

[0093] If the game of uncertain outcome is said to relate to a positivesum game, without reference to an outside vendor or a house vendor, thenit is understood herein that the game of uncertain outcome is a positivesum game in relation to either an outside vendor or a house vendor.

[0094] Conventional games of chance are generally either negative sumgames or zero-sum games, in favor of the house 30 over the player 20;e.g., the game is profitable for the house 30 and unprofitable for theplayer 20 for both negative sum games and zero-sum games. Note, however,that although the game of uncertain outcome of the present invention maybe a positive-sum game as defined supra, the scope of the presentinvention also includes cases in which the game of uncertain outcome isa zero-sum game or a negative sum game.

[0095] Various special cases within the scope of the present inventioninclude: E^(S→I) _(i) constant and thus independent of i, E^(S→C) _(i)is constant and thus independent of i, both E^(S→I) _(i) and E^(S→I)_(i) are constant and thus independent of i, E^(S→I) _(i)=1, E^(S→C)_(i)=1, N=0, N=1, and N>1.

[0096] The entrance-exchange structure 10 may be configured such thatthe house 30 guarantees that the player 20 cannot lose more than Ppercent of the initial betting capital of the player 20. This means thatif the player 20 converts substantially all of the initial bettingcapital of the player 20 into relevant scrip by playing one or moregames of chance, then the house 30 permits the player 20 to exchangesaid relevant scrip of the player 20 into (100−P) percent of the initialbetting capital of the player 20. Generally, P is any discrete integer,rational, or irrational value in a range of P<100 (e.g., P=1, 2, . . . ,50, 51, . . . , or 99; P=15.40; P=35.6666666 . . . , etc.). Thus P canbe constrained to any range P₁<P<P₂ subject to P₂<100 As an example, Pcan be constrained to 0<P<1, 0<P<2, . . . , 0<P<50, 0<P<51, . . . , or0<P<100. As another example, P can be constrained to 10<P<20, 10<P<30, .. . , or 0<P<90). As still another example, P can be constrained to10.25<P<33.3333333 . . . . Other examples include 0≦P≦100, −30≦P≦−10,etc.

[0097] Alternatively, the entrance-exchange structure 10 may beconfigured such that the house 30 guarantees that the player 20 cannotcome away from the betting with less F₁B units of cash and F₂B units ofrelevant scrip, wherein B is the initial betting capital of the player20, and F₁ and F₂ are real numbers such that F₁≧0 and F₂≧0. As anexample, if B=$1000, F₁=0.20, and F₂=0.40, then with an initial bettingcapital of $1000, the player 20 cannot come away from the betting withless than $200 in cash and 400v in relevant scrip.

[0098] The case of P=0 corresponds to a guarantee by the house 30 thatthe player 20 cannot lose any of the initial betting capital of theplayer 20. The case of P<0 corresponds to the house 30 guaranteeing thatthe initial betting capital of player 20 must increase by at least −Ppercent as a result of playing the game of uncertain outcome. As anexample if P=−10, then the house is guaranteeing that the initialbetting capital of player 20 the player must increase by at least 10percent as a result of playing the game of uncertain outcome. Note thatfor the case of P<0, one may introduce the variable Q=−P whereby Q>0.

[0099] While the embodiments described supra relate to a game ofuncertain outcome, the scope of the present invention generallycomprises an activity of uncertain outcome, wherein an “activity” is aset of rules used to classify, guide, affect or control, an action orseries of actions.

[0100] In conjunction with an “activity,” the following definitions,explanations, and examples are relevant to the scope of the presentinvention. An “outcome” is a result or effect of the activity at aspecific time or condition. A “game” is a particular embodiment of anactivity, namely an activity with at least one potential outcome (e.g.,a win by a player of the game). Example of games include games ofchance, a games of skill, etc. A “game transaction” is any aspect orpart of a game that has an outcome. A “subject” is anything that can besaid to act or be acted upon. A “participant” is a subject acting, orbeing acted upon, in accordance with an activity. “Entrance” in relationto an activity occurs when a subject becomes a participant in theactivity. Examples of an entrance include, inter alia, a placing of abet, a payment of a fee, an action such as an action that satisfies oneor more criteria (e.g., running a race in which the runner must satisfya criterion of weighing less than 150 pounds; completing an entry form).The action may be a predetermined action, and the criteria may bepredetermined criteria. “Entering” into an activity is performing anentrance into the activity. A “player” is a participant in a game,wherein the player may make one or more decisions potentially affectingat least one outcome of the game or entrance into the game. Even adecision to enter and watch may make one a player (e.g., in a lottery).A player is an example of a participant. A participant or subjectgenerally, or a player in particular, may comprise, inter alia, aperson, an organization, etc. “Playing” a game is being a participant inthe game and potentially affecting or having an interest in an outcomeof the game. “Participating” by a subject is acting by the subject, orthe subject being acted upon, in accordance with an activity. A “house”acts upon an activity, wherein “acts” comprises at least one of:measures, judges, enforces, controls, creates, manages, administratesand executes. Thus the embodiments of the present invention for a gamewith one or more players, as described infra, are generalizable to anactivity with one or more participants such that the one or moreparticipants may enter the activity. “Takehome” is the actual amount ofcurrency received from a game after subtracting all commissions, feesand payments owed by a player from entering and playing the game. An“expected net payoff” is an amount of currency equal to the probabilityof a specific outcome of a game transaction, multiplied by the paymentpotentially received upon achieving that outcome, summed over allpossible outcomes and game transactions, and subtracting allcommissions, fees and payments owed from playing the game.

[0101] If the relevant scrip becomes sufficiently circulated within a“geographical area”, such as, inter alia, within a “real geographicalarea” (e.g., a geographical area with conventional geographicalboundaries such as all of the United States, North America, the state ofNew York, all of the United Nations countries, etc.) or within a“virtual geographical area” such as within a group of persons (e.g.,within a corporation, an industry, an organization, a database or listsuch as a mailing list, etc.), then the relevant scrip may becomegenerally valuable as a virtual currency and may be convertible to cashat a market scrip-cash exchange rate R^(S→C) such that each unit ofrelevant scrip converts to R^(S→C) dollars of cash. Conversely, cash maybe convertible to relevant scrip at a market cash-scrip exchange rateR^(C→S) such that each dollar of cash converts to R^(C→S) units ofrelevant scrip. R^(S→C) and R^(C→S) is a function of the type of cash(e.g., American dollar, American cent, Japanese yen, English pound,etc.).

[0102] Theoretically, R^(S→C)×R^(C→S)=1. In practice, however, personsor businesses (e.g., banks) may perform such conversions at a profit forthemselves such that R^(S→C)×R^(C→S)<1. Alternatively, R^(S→C)×R^(C→S)>1is possible for various reasons including, inter alia: a time delaybetween a first location and a second location in synchronizing R^(S→C)and/or R^(C→S) to consistent values at the first location and the secondlocation; labor or other valuable consideration built into R^(S→C)and/or R^(C→S); adding interest or other inducement(s) to motivate oneto acquire a particular relevant scrip or other currency; etc.

[0103] The scope of a virtual currency system of the present inventionincludes multiple currencies denoted as K currencies C₁, C₂, . . . ,C_(K) such that K≧1. If K=1 then only one currency C₁ is relevant. IfK>2 then at least two currencies are relevant. At least one of C₁, C₂, .. . , C_(K) may be a scrip currency (e.g., non-bettable scrip,absolutely bettable scrip, conditionally bettable scrip, etc.). At leastone of C₁, C₂, . . . , C_(K) may be money. Money is defined herein as acash (e.g., American dollar, American cent, Japanese yen, English pound,etc.) or a cash equivalent (e.g., gaming tokens, chips). Each suchcurrency C_(k) (k=1, 2, . . . , K) may be converted from the othercurrencies in accordance with an exchange rate matrix [R] of order Ksuch that

C _(j)=Σ_(k)(R _(jk) C _(k))  (1)

[0104] wherein R_(jk) denote the matrix elements of [R] such thatindices j and k each vary from 1 to K, and wherein Σ_(k) denotes asummation over k from k=1 to k=K. The matrix elements R_(jk) denote anexchange rate from currency C_(k) to currency C_(j). Some currencyexchanges may be forbidden (i.e., R_(jk)=0 for said forbidden currencyexchanges). For example, the diagonal matrix elements may each equalzero (i.e., R_(kk)=0 for k=1, 2, . . . , K) if transformations of acurrency into itself is forbidden. As another example, if C₁ representsa bettable scrip and if C₂ represents a dollar currency then theconstraint of R₂₁=0 may be imposed to exclude the possibility ofconverting the bettable scrip into the dollar currency. A simple exampleof the virtually currency system of the present invention is thepreviously discussed R^(S→C) and R^(C→S) currency exchanges such that:K=2, C₁ represents a cash currency, C₂ represents a scrip currency,R₁₁=R₂₂=0, R₁₂=R^(S→C), and R₂₁=R^(C→S).

[0105] Since the relevant scrip may emerge into circulation fromexecution of the entrance-exchange structure 10, the entrance-exchangestructure 10 is a source or generator of the relevant scrip or virtualcurrency. Alternatively, the relevant scrip may be generated by a sourceother than from execution of the entrance-exchange structure 10. Forexample, the relevant scrip may be manufactured by the house or by anoutside vendor and circulated outside of the entrance-exchange structure10. Thus, the relevant scrip may be generated wholly or in part by theentrance-exchange structure 10.

[0106] While particular embodiments of the present invention have beendescribed herein for purposes of illustration, many modifications andchanges will become apparent to those skilled in the art. Accordingly,the appended claims are intended to encompass all such modifications andchanges as fall within the true spirit and scope of this invention.

We claim:
 1. A entrance-exchange structure, comprising: scrip; and agame of uncertain outcome adapted to be played by at least one player,wherein a house is adapted to pay a player of the at least one player atakehome in a currency for a win of the game of uncertain outcome by theplayer based on betting by the player, and wherein the currency isselected from the group consisting of cash plus scrip and scrip.
 2. Theentrance-exchange structure of claim 1, wherein at least one vendorexists such that the at least one vendor is selected from the groupconsisting of a house vendor, N outside vendors such that N is at least1, and the house vendor plus the N outside vendors; wherein if the atleast one vendor includes the house vendor, then a player may exchange aportion of the scrip at a scrip-to-items exchange rate E^(S→I) ₀ for atleast one item provided by the house vendor; and wherein if the at leastone vendor includes the N outside vendors, then the player may exchangethe portion of the scrip with the outside vendor V_(i) at ascrip-to-items exchange rate E^(S→I) _(i) for at least one item providedby the outside vendor V_(i) such that i is selected from the groupconsisting of 1, 2, . . . , and N, and the outside vendor V_(i) mayexchange a percentage of the portion of the scrip with the house forcash at the scrip-to-cash exchange rate E^(S→C) _(i) such that i isselected from the group consisting of 1, 2, . . . , and N.
 3. Theentrance-exchange structure of claim 2, wherein the at least one vendorconsists of the house vendor.
 4. The entrance-exchange structure ofclaim 2, wherein the at least one vendor consists of the N outsidevendors.
 5. The entrance-exchange structure of claim 2, wherein the atleast one vendor consists of the house vendor plus the N outsidevendors.
 6. The entrance-exchange structure of claim 2, wherein if theat least one vendor includes the N outside vendors, then two or moreoutside vendors of the N outside vendors do not provide a same oressentially similar item or items in exchange for the scrip.
 7. Theentrance-exchange structure of claim 2, wherein if the at least onevendor includes the N outside vendors, then N is at least 2 and E^(S→I)_(i) is independent of i such that E^(S→I) _(i) is constant, for i=1, 2,. . . , and N.
 8. The entrance-exchange structure of claim 2, wherein ifthe at least one vendor includes the N outside vendors, then N is atleast 2 and E^(S→C) _(i) is independent of i such that E^(S→C) _(i) isconstant, for i=1, 2, . . . , and N.
 9. The entrance-exchange structureof claim 2, wherein if the at least one vendor includes the N outsidevendors then Φ_(P,i)>0, and wherein Φ_(P,i) is a percent profit for theplayer in relation to the outside vendor V_(i), for i=1, 2, . . . , andN.
 10. The entrance-exchange structure of claim 2, wherein if the atleast one vendor includes the N outside vendors then Φ_(H,i)>0, andwherein φ_(H,i) is a percent profit for the house in relation to theoutside vendor V_(i) for i=1, 2, . . . , and N.
 11. Theentrance-exchange structure of claim 2, wherein if the at least onevendor includes the N F outside vendors then Φ_(V,i)>0, and whereinΦ_(V,i) is a percent profit for the outside vendor V_(i), for i=1, 2, .. . , and N.
 12. The entrance-exchange structure of claim 2, wherein ifthe at least one vendor includes the N outside vendors, then the game ofuncertain outcome is a positive sum game in relation to a subset of theN outside vendors.
 13. The entrance-exchange structure of claim 2,wherein if the at least one vendor includes the N outside vendors, thenthe game of uncertain outcome is a positive participant game in relationto a subset of the N outside vendors.
 14. The entrance-exchangestructure of claim 2, wherein if the at least one vendor includes the Noutside vendors then two and only two of Φ_(P,i), Φ_(V,i), and Φ_(H,i)are positive, wherein Φ_(P,i) is a percent profit for the player inrelation to the outside vendor V_(i), wherein Φ_(V,i) is a percentprofit for the outside vendor V_(i), and wherein Φ_(H,i) is a percentprofit for the house in relation to the outside vendor V_(i), for i=1,2, . . . , and N.
 15. The entrance-exchange structure of claim 2,wherein if the at least one vendor includes the house vendor thenΦ_(P,0)>0 and wherein Φ_(P,0) is a percent profit for the player inrelation to the house vendor.
 16. The entrance-exchange structure ofclaim 2, wherein if the at least one vendor includes the house vendorthen Φ_(H,0)>0, and wherein Φ_(H,0) is a percent profit for the housewhen functioning as the house vendor.
 17. The entrance-exchangestructure of claim 2, wherein if the at least one vendor includes thehouse vendor then Φ_(P,0)>0 and Φ_(H,0)>0, wherein Φ_(P,0) is a percentprofit for the player in relation to the house vendor, and whereinΦ_(H,0) is a percent profit for the house when functioning as the housevendor.
 18. The entrance-exchange structure of claim 2, wherein if theat least one vendor includes the house vendor, then the game ofuncertain outcome is a positive sum game in relation to the house vendorsuch that Φ_(H,0)>0.
 19. The entrance-exchange structure of claim 2,wherein if the at least one vendor includes the house vendor, then thegame of uncertain outcome is a positive participant game in relation tothe house vendor.
 20. The entrance-exchange structure of claim 2,wherein the game of uncertain outcome is a positive sum game in relationto each vendor of the at least one vendor.
 21. The entrance-exchangestructure of claim 2, wherein the game of uncertain outcome is apositive sum game in relation to a first vendor of the at least onevendor.
 22. The entrance-exchange structure of claim 2, wherein thehouse is adapted to guarantee that the player cannot lose more than Ppercent of the player's initial betting capital, and wherein P is in arange of 0≦P<100.
 23. The entrance-exchange structure of claim 22,wherein P does not exceed
 50. 24. The entrance-exchange structure ofclaim 2, wherein the house is adapted to guarantee that the player'sinitial betting capital must increase by at least Q percent, and whereinQ>0.
 25. The method of claim 24, wherein if the at least one vendorincludes the house vendor then the house implements guaranteeing the Qpercent by adjustment of a scrip-to-items exchange ratio E^(S→I) ₀. 26.The entrance-exchange structure of claim 2, wherein the house is adaptedto guarantee that the game of uncertain outcome is a positive sum game.27. The entrance-exchange structure of claim 2, wherein the house isadapted to guarantee that the game of uncertain outcome is a positiveparticipant game.
 28. The entrance-exchange structure of claim 2,wherein if the at least one vendor includes the N outside vendors thenthe house is adapted to guarantee that two and only two of Φ_(P,i),Φ_(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i) is a percent profitfor the player in relation to the outside vendor V_(i), wherein Φ_(V,i)is a percent profit for the outside vendor V_(i), and wherein Φ_(H,i) isa percent profit for the house in relation to the outside vendor V_(i),for i=1, 2, . . . , and N.
 29. The entrance-exchange structure of claim1, wherein the game of uncertain outcome is adapted for sequentialbetting by the player when the game of uncertain outcome is played bythe player, wherein the takehome to the player from the house is adaptedto provide the player with an expected takehome of C dollars of cash andS units of scrip for each dollar bet such that 0≦C<1 and S>0.
 30. Theentrance-exchange structure of claim 29, wherein SIC is constant. 31.The entrance-exchange structure of claim 1, wherein the betting by theplayer comprises betting by cash, cash equivalent, bettable scrip, or acombination of thereof.
 32. The entrance-exchange structure of claim 1,wherein the betting by the player comprises betting by bettable scrip.33. The entrance-exchange structure of claim 32, wherein the bettablescrip is conditionally bettable.
 34. The entrance-exchange structure ofclaim 1, wherein the house comprises a casino.
 35. The entrance-exchangestructure of claim 1, wherein the house comprises a computer casino. 36.The entrance-exchange structure of claim 35, wherein the playerinteracts with the computer casino over a data communication mediumselected from the group consisting of an Internet, an Intranet, a cabletelevision network, a telephone network, a wide area network, asatellite network, a short wave radio network, and a combinationthereof.
 37. The entrance-exchange structure of claim 1, wherein thegame of uncertain outcome comprises a casino game.
 38. Theentrance-exchange structure of claim 1, wherein the game of uncertainoutcome includes an event selected from the group consisting of alottery and a sporting event.
 39. The entrance-exchange structure ofclaim 1, wherein the game of uncertain outcome comprises a game ofchance.
 40. The entrance-exchange structure of claim 1, wherein the gameof uncertain outcome comprises a game of skill.
 41. A method ofexecuting a entrance-exchange structure, comprising: participating in agame of uncertain outcome by a first party selected from the groupconsisting of a player and a house, wherein the game of uncertainoutcome is being played by the player, wherein a house is adapted to paythe player a takehome in a currency for a win of the game of uncertainoutcome by the player based on betting by the player, and wherein thecurrency is selected from the group consisting of cash plus scrip andscrip; and dealing with the scrip by the first party, wherein if thefirst party is the player then the dealing by the player comprisesreceiving from the house the takehome for the win, and wherein if thefirst party is the house then the dealing by the house comprises givingto the player the takehome for the win.
 42. The method of claim 41,wherein at least one vendor exists such that the at least one vendor isselected from the group consisting of a house vendor, N outside vendorssuch that N is at least 1, and the house vendor plus the N outsidevendors; wherein if the at least one vendor includes the house vendor,then a player may exchange a portion of the scrip at a scrip-to-itemsexchange rate E^(S→I) ₀ for at least one item provided by the housevendor; and wherein if the at least one vendor includes the N outsidevendors, then the player may exchange the portion of the scrip with theoutside vendor V_(i) at a scrip-to-items exchange rate E^(S→I) _(i) forat least one item provided by the outside vendor V_(i) such that i isselected from the group consisting of 1, 2, . . . , and N, and theoutside vendor V_(i) may exchange a percentage of the portion of thescrip with the house for cash at the scrip-to-cash exchange rate E^(S→C)_(i) such that i is selected from the group consisting of 1, 2, . . . ,and N.
 43. The method of claim 42, wherein the at least one vendorconsists of the house vendor.
 44. The method of claim 42, wherein the atleast one vendor consists of the N outside vendors.
 45. The method ofclaim 42, wherein the at least one vendor consists of the house vendorplus the N outside vendors.
 46. The method of claim 42, wherein if theat least one vendor includes the N outside vendors, then two or moreoutside vendors of the N outside vendors do not provide a same oressentially similar item or items in exchange for the scrip.
 47. Themethod of claim 42, wherein if the at least one vendor includes the Noutside vendors, then N is at least 2 and E^(S→I) _(i) is independent ofi such that E^(S→I) _(i) is constant, for i=1, 2, . . . , and N.
 48. Themethod of claim 42, wherein if the at least one vendor includes the Noutside vendors, then N is at least 2 and E^(S→C) _(i) is independent ofi such that E^(S→C) _(i) is constant, for i=1, 2, . . . , and N.
 49. Themethod of claim 42, wherein if the at least one vendor includes the Noutside vendors then Φ_(P,i)>0, and wherein Φ_(P,i) is a percent profitfor the player in relation to the outside vendor V_(i), for i=1, 2, . .. , and N.
 50. The method of claim 42, wherein if the at least onevendor includes the N outside vendors then Φ_(H,i)>0, and whereinΦ_(H,i) is a percent profit for the house in relation to the outsidevendor V_(i), for i=1, 2, . . . , and N.
 51. The method of claim 42,wherein if the at least one vendor includes the N outside vendors thenΦ_(V,i)>0, and wherein Φ_(V,i) is a percent profit for the outsidevendor V_(i), for i=1, 2, . . . , and N.
 52. The method of claim 42,wherein if the at least one vendor includes the N outside vendors, thenthe game of uncertain outcome is a positive sum game in relation to asubset of the N outside vendors.
 53. The method of claim 42, wherein ifthe at least one vendor includes the N outside vendors, then the game ofuncertain outcome is a positive participant game in relation to a subsetof the N outside vendors.
 54. The method of claim 42, wherein if the atleast one vendor includes the N outside vendors then two and only two ofΦ_(P,i), Φ_(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i) is a percentprofit for the player in relation to the outside vendor V_(i), whereinΦ_(V,i) is a percent profit for the outside vendor V_(i), and whereinΦ_(H,i) is a percent profit for the house in relation to the outsidevendor V_(i), for i=1, 2, . . . , and N.
 55. The method of claim 42,wherein if the at least one vendor includes the house vendor thenΦ_(P,0)>0, and wherein Φ_(p,0) is a percent profit for the player inrelation to the house vendor.
 56. The method of claim 42, wherein if theat least one vendor includes the house vendor then Φ_(H,0)>0, andwherein Φ_(H,0) is a percent profit for the house when functioning asthe house vendor.
 57. The method of claim 42, wherein if the at leastone vendor includes the house vendor then Φ_(P,0)>0 and Φ_(H,0)>0,wherein Φ_(p,0) is a percent profit for the player in relation to thehouse vendor, and wherein Φ_(H,0) is a percent profit for the house whenfunctioning as the house vendor.
 58. The method of claim 42, wherein ifthe at least one vendor includes the house vendor, then the game ofuncertain outcome is a positive sum game in relation to the house vendorsuch that Φ_(H,0)>0.
 59. The method of claim 42, wherein if the at leastone vendor includes the house vendor, then the game of uncertain outcomeis a positive participant game in relation to the house vendor.
 60. Themethod of claim 42, wherein the game of uncertain outcome is a positivesum game in relation to each vendor of the at least one vendor.
 61. Themethod of claim 42, wherein the game of uncertain outcome is a positivesum game in relation to a first vendor of the at least one vendor. 62.The method of claim 42, wherein the house is adapted to guarantee thatthe player cannot lose more than P percent of the player's initialbetting capital, and wherein P is in a range of 0≦P<100.
 63. The methodof claim 62, wherein P does not exceed
 50. 64. The method of claim 42,wherein the house is adapted to guarantee that the player's initialbetting capital must increase by at least Q percent, and wherein Q>0.65. The method of claim 64, wherein if the at least one vendor includesthe house vendor then the house implements guaranteeing the Q percent byadjustment of a scrip-to-items exchange ratio E^(S→I) ₀.
 66. The methodof claim 42, wherein the house is adapted to guarantee that the game ofuncertain outcome is a positive sum game.
 67. The method of claim 42,wherein the house is adapted to guarantee that the game of uncertainoutcome is a positive participant game.
 68. The method of claim 42,wherein if the at least one vendor includes the N outside vendors thenthe house is adapted to guarantee that two and only two of Φ_(P,i),Φ_(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i) is a percent profitfor the player in relation to the outside vendor V_(i), wherein Φ_(V,i)is a percent profit for the outside vendor V_(i), and wherein Φ_(H,i) isa percent profit for the house in relation to the outside vendor V_(i),for i=1, 2, . . . , and N.
 69. The method of claim 41, wherein the gameof uncertain outcome is adapted for sequential betting by the playerwhen the game of uncertain outcome is played by the player, wherein thetakehome to the player from the house is adapted to provide the playerwith an expected takehome of C dollars of cash and S units of scrip foreach dollar bet such that 0≦C<1 and S>0.
 70. The method of claim 69,wherein S/C is constant.
 71. The method of claim 41, wherein the bettingby the player comprises betting by cash, cash equivalent, bettablescrip, or a combination of thereof.
 72. The method of claim 41, whereinthe betting by the player comprises betting by bettable scrip.
 73. Themethod of claim 72, wherein the bettable scrip is conditionallybettable.
 74. The method of claim 41, wherein the house comprises acasino.
 75. The method of claim 41, wherein the house comprises acomputer casino.
 76. The method of claim 75, wherein the playerinteracts with the computer casino over a data communication mediumselected from the group consisting of an Internet, an Intranet, a cabletelevision network, a telephone network, a wide area network, asatellite network, a short wave radio network, and a combinationthereof.
 77. The method of claim 41, wherein the game of uncertainoutcome comprises a casino game.
 78. The method of claim 41, wherein thegame of uncertain outcome includes an event selected from the groupconsisting of a lottery and a sporting event.
 79. The method of claim41, wherein the game of uncertain outcome comprises a game of chance.80. The method of claim 41, wherein the game of uncertain outcomecomprises a game of skill.
 81. A virtual currency system, comprisingscrip and money, wherein the money is at least one of cash and cashequivalent, wherein the scrip is generated wholly or in part by aentrance-exchange structure, wherein the entrance-exchange structurecomprises a game of uncertain outcome adapted to be played by a player,wherein a house is adapted to pay the player a takehome in a currencyfor a win of the game of uncertain outcome by the player based onbetting by the player, and wherein the currency is selected from thegroup consisting of cash plus scrip and scrip.
 82. The virtual currencysystem of claim 81, wherein at least one vendor exists such that the atleast one vendor is selected from the group consisting of a housevendor, N outside vendors such that N is at least 1, and the housevendor plus the N outside vendors; wherein if the at least one vendorincludes the house vendor, then a player may exchange a portion of thescrip at a scrip-to-items exchange rate E^(S→I) ₀ for at least one itemprovided by the house vendor, and wherein if the at least one vendorincludes the N outside vendors, then the player may exchange a portionof the scrip with the outside vendor V_(i) at a scrip-to-items exchangerate E^(S→I) _(i) for at least one item provided by the outside vendorV_(i) such that i is selected from the group consisting of 1, 2, . . . ,and N, and the outside vendor V_(i) may exchange a percentage of theportion of the scrip with the house for cash at the scrip-to-cashexchange rate E^(S→C) _(i) such that i is selected from the groupconsisting of 1, 2, . . . , and N.
 83. The virtual currency system ofclaim 81, wherein the scrip circulates within a geographical area. 84.The virtual currency system of claim 83, wherein the geographical areacomprises a real geographical area.
 85. The virtual currency system ofclaim 83, wherein the geographical area comprises a virtual geographicalarea.
 86. The virtual currency system of claim 81, wherein: the scrip isconvertible to cash at a market scrip-cash exchange rate R^(S→C) suchthat each unit of scrip converts to R^(S→C) dollars of cash; cash isconvertible to scrip at a market cash-scrip exchange rate R^(C→S) suchthat each dollar of cash converts to R^(C→S) units of scrip; or acombination thereof.
 87. The virtual currency system of claim 86,wherein R^(S→C)×R^(C→S)=1.
 88. The virtual currency system of claim 86,wherein R^(S→C)×R^(C→S)<1.
 89. The virtual currency system of claim 86,wherein R^(S→C)×R^(C→S)>1.
 90. The virtual currency system of claim 81:wherein the virtual currency system comprises K currencies C₁, C₂, . . ., C_(K) such that K is at least 1; wherein at least one of C₁, C₂, . . ., C_(K) includes the scrip; wherein each currency C_(k) may be convertedinto currency C_(j) in accordance with an exchange rate matrix [R] oforder K such that C_(j)=Σ_(k)(R_(jk)C_(k)); wherein R_(jk) denote thematrix elements of [R] such that indices j and k each vary from 1 to K;wherein Σ_(k) denotes a summation over k from k=1 to k=K; and whereinR_(jk) denote an exchange rate from currency C_(k) to currency C_(j).91. The virtual currency system of claim 90, wherein R_(kk)=0 for k=1,2, . . . , and K.
 92. The virtual currency system of claim 90, whereinR_(jk)=0 for at least one combination of j and k such that j≠k.
 93. Aentrance-exchange structure, comprising a scrip-to-items exchange rateE^(S→I) _(i), and a scrip-to-cash exchange rate E^(S→C) _(i), such thati is selected from the group consisting of 1, 2, . . . , and N: whereinN is at least 1; wherein a game of uncertain outcome is adapted to beplayed by a player; wherein a house is adapted to pay the player atakehome in a currency for a win of the game of uncertain outcome by theplayer based on betting by the player; wherein the currency is selectedfrom the group consisting of cash plus scrip and scrip; wherein Noutside vendors exist; wherein the player may exchange a portion of thescrip with the outside vendor V_(i) at the scrip-to-items exchange rateE^(S→I) _(i) for at least one item provided by the outside vendor V_(i)such that i is selected from the group consisting of 1, 2, . . . , andN; and wherein the outside vendor V_(i) may exchange a percentage of theportion of the scrip for cash at the scrip-to-cash exchange rate E^(S→C)_(i) such that i is selected from the group consisting of 1, 2, . . . ,and N.
 94. The entrance-exchange structure of claim 93, wherein two ormore outside vendors of the N outside vendors do not provide a same oressentially similar item or items in exchange for the scrip.
 95. Theentrance-exchange structure of claim 93, wherein N is at least 2 andE^(S→I) _(i) is independent of i such that E^(S→I) _(i) is constant, fori=1, 2, . . . , and N.
 96. The entrance-exchange structure of claim 93,wherein N is at least 2 and E^(S→C) _(i) is independent of i such thatE^(S→C) _(i) is constant, for i=1, 2, . . . , and N.
 97. Theentrance-exchange structure of claim 93, wherein Φ_(P,i)>0, and whereinΦ_(P,i) is a percent profit for the player in relation to the outsidevendor V_(i), for i=1, 2, . . . , and N.
 98. The entrance-exchangestructure of claim 93, wherein Φ_(H,i)>0, and wherein Φ_(H,i) is apercent profit for the house in relation to the outside vendor V_(i),for i=1, 2, . . . , and N.
 99. The entrance-exchange structure of claim93, wherein Φ_(V,i)>0, and wherein Φ_(V,i) is a percent profit for theoutside vendor V_(i), for i=1, 2, . . . , and N.
 100. Theentrance-exchange structure of claim 93, wherein the game of uncertainoutcome is a positive sum game in relation to the outside vendor V_(i)for i=1, 2, . . . , and N.
 101. The entrance-exchange structure of claim93, wherein the game of uncertain outcome is a positive participant gamein relation to the outside vendor V_(i) for i=1, 2, . . . , and N. 102.The entrance-exchange structure of claim 93, wherein two and only two ofΦ_(P,i), Φ_(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i) is a percentprofit for the player in relation to the outside vendor V_(i), whereinΦ_(V,i) is a percent profit for the outside vendor V_(i), and whereinΦ_(H,i) is a percent profit for the house in relation to the outsidevendor V_(i), for i=1, 2, . . . , and N.
 103. The entrance-exchangestructure of claim 93, wherein the game of uncertain outcome is apositive sum game in relation to each vendor of the at least one vendor.104. The entrance-exchange structure of claim 93, wherein the game ofuncertain outcome is a positive sum game in relation to a first vendorof the at least one vendor.
 105. The entrance-exchange structure ofclaim 93, wherein the house is adapted to guarantee that the playercannot lose more than P percent of the player's initial betting capital,and wherein P is in a range of 0≦P<100.
 106. The entrance-exchangestructure of claim 105, wherein P does not exceed
 50. 107. Theentrance-exchange structure of claim 93, wherein the house is adapted toguarantee that the player's initial betting capital must increase by atleast Q percent, and wherein Q>0.
 108. The entrance-exchange structureof claim 107, wherein if the at least one vendor includes the housevendor then the house implements guaranteeing the Q percent byadjustment of a scrip-to-items exchange ratio E^(S→I) ₀.
 109. Theentrance-exchange structure of claim 93, wherein the house is adapted toguarantee that the game of uncertain outcome is a positive sum game.110. The entrance-exchange structure of claim 93, wherein the house isadapted to guarantee that the game of uncertain outcome is a positiveparticipant game.
 111. The entrance-exchange structure of claim 93,wherein if the at least one vendor includes the N outside vendors thenthe house is adapted to guarantee that two and only two of Φ_(P,i),Φ_(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i) is a percent profitfor the player in relation to the outside vendor V_(i), wherein Φ_(V,i)is a percent profit for the outside vendor V_(i), and wherein Φ_(H,i) isa percent profit for the house in relation to the outside vendor V_(i),for i=1, 2, . . . , and N.
 112. The entrance-exchange structure of claim93, wherein the game of uncertain outcome is adapted for sequentialbetting by the player when the game of uncertain outcome is played bythe player, wherein the takehome to the player from the house is adaptedto provide the player with an expected takehome of C dollars of cash andS units of scrip for each dollar bet such that 0≦C<1 and S>0.
 113. Theentrance-exchange structure of claim 112, wherein S/C is constant. 114.The entrance-exchange structure of claim 93, wherein the betting by theplayer comprises betting by cash, cash equivalent, bettable scrip, or acombination of thereof.
 115. The entrance-exchange structure of claim93, wherein the betting by the player comprises betting by bettablescrip.
 116. The entrance-exchange structure of claim 115, wherein thebettable scrip is conditionally bettable.
 117. The entrance-exchangestructure of claim 93, wherein the house comprises a casino.
 118. Theentrance-exchange structure of claim 93, wherein the house comprises acomputer casino.
 119. The entrance-exchange structure of claim 118,wherein the player interacts with the a computer casino over a datacommunication medium selected from the group consisting of an Internet,an Intranet, a cable television network, a telephone network, a widearea network, a satellite network, a short wave radio network, and acombination thereof.
 120. The entrance-exchange structure of claim 93,wherein the game of uncertain outcome comprises a casino game.
 121. Theentrance-exchange structure of claim 93, wherein the game of uncertainoutcome includes an event selected from the group consisting of alottery and a sporting event.
 122. The entrance-exchange structure ofclaim 93, wherein the game of uncertain outcome comprises a game ofchance.
 123. The entrance-exchange structure of claim 93, wherein thegame of uncertain outcome comprises a game of skill.
 124. A method ofexecuting a entrance-exchange structure, comprising dealing with ascrip-to-items exchange rate E^(S→I) _(i) and dealing with ascrip-to-cash exchange rate E^(S→C) _(i), such that i is selected fromthe group consisting of 1, 2, . . . . , and N: wherein N is at least 1;wherein a game of uncertain outcome is adapted to be played by a player;wherein a house is adapted to pay the player a takehome in a currencyfor a win of the game of uncertain outcome by the player based onbetting by the player; wherein the currency is selected from the groupconsisting of cash plus scrip and scrip; wherein N outside vendorsexist; wherein dealing with the scrip-to-items exchange rate E^(S→I)_(i) comprises permitting, by outside vendor V_(i), the player toexchange a portion of the scrip with the outside vendor V_(i) at thescrip-to-items exchange rate E^(S→I) _(i) for at least one item providedby the outside vendor V_(i) such that i is selected from the groupconsisting of 1, 2, . . . , and N; and wherein dealing with thescrip-to-cash exchange rate E^(S→C) _(i) comprises exchanging apercentage of the portion of the scrip from the outside vendor V_(i) forcash at the scrip-to-cash exchange rate E^(S→C) _(i) such that i isselected from the group consisting of 1, 2, . . . , and N.
 125. Themethod of claim 124, wherein two or more outside vendors of the Noutside vendors do not provide a same or essentially similar item oritems in exchange for the scrip.
 126. The method of claim 124, wherein Nis at least 2 and E^(S→I) _(i) is independent of i such that E^(S→I)_(i) is constant, for i=1, 2, . . . , and N.
 127. The method of claim124, wherein N is at least 2 and E^(S→C) _(i) is in dependent of i suchthat E^(S→C) _(i) is constant, for i=1, 2, . . . , and N.
 128. Themethod of claim 124, wherein Φ_(P,i)>0, and wherein Φ_(P,i) is a percentprofit for the player in relation to the outside vendor V_(i), for i=1,2, . . . , and N.
 129. The method of claim 124, wherein Φ_(H,i)>0, andwherein Φ_(H,i) is a percent profit for the house in relation to theoutside vendor V_(i), for i=1, 2, . . . , and N.
 130. The method ofclaim 124, wherein Φ_(V) _(i)>0, and wherein Φ_(V,i) is a percent profitfor the outside vendor V_(i), for i=1, 2, . . . , and N.
 131. The methodof claim 124, wherein the game of uncertain outcome is a positive sumgame in relation to the outside vendor V_(i) for i=1, 2, . . . , and N.132. The method of claim 124, wherein the game of uncertain outcome is apositive participant game in relation to the outside vendor V_(i) fori=1, 2, . . . , and N.
 133. The method of claim 124, wherein two andonly two of Φ_(P,i, Φ) _(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i)is a percent profit for the player in relation to the outside vendorV_(i), wherein Φ_(V,i) is a percent profit for the outside vendor V_(i),and wherein Φ_(H,i) is a percent profit for the house in relation to theoutside vendor V_(i), for i=1, 2, . . . , and N.
 134. The method ofclaim 124, wherein the game of uncertain outcome is a positive sum gamein relation to each vendor of the at least one vendor.
 135. The methodof claim 124, wherein the game of uncertain outcome is a positive sumgame in relation to a first vendor of the at least one vendor.
 136. Themethod of claim 124, wherein the house is adapted to guarantee that theplayer cannot lose more than P percent of the player's initial bettingcapital, and wherein P is in a range of 0≦P<100.
 137. The method ofclaim 136, wherein P does not exceed
 50. 138. The method of claim 124,wherein the house is adapted to guarantee that the player's initialbetting capital must increase by at least Q percent, and wherein Q>0.139. The method of claim 107, wherein if the at least one vendorincludes the house vendor then the house implements guaranteeing the Qpercent by adjustment of a scrip-to-items exchange ratio E^(S→I) ₀. 140.The method of claim 124, wherein the house is adapted to guarantee thatthe game of uncertain outcome is a positive sum game.
 141. The method ofclaim 124, wherein the house is adapted to guarantee that the game ofuncertain outcome is a positive participant game.
 142. The method ofclaim 124, wherein if the at least one vendor includes the N outsidevendors then the house is adapted to guarantee that two and only two ofΦ_(P,i), Φ_(V,i), and Φ_(H,i) are positive, wherein Φ_(P,i) is a percentprofit for the player in relation to the outside vendor V_(i), whereinΦ_(V,i) is a percent profit for the outside vendor V_(i), and whereinΦ_(H,i) is a percent profit for the house in relation to the outsidevendor V_(i), for i=1, 2, . . . , and N.
 143. The method of claim 124,wherein the game of uncertain outcome is adapted for sequential bettingby the player when the game of uncertain outcome is played by theplayer, wherein the takehome to the player from the house is adapted toprovide the player with an expected takehome of C dollars of cash and Sunits of scrip for each dollar bet such that 0≦C<1 and S>0.
 144. Themethod of claim 143, wherein S/C is constant.
 145. The method of claim124, wherein the betting by the player comprises betting by cash, cashequivalent, bettable scrip, or a combination of thereof.
 146. The methodof claim 124, wherein the betting by the player comprises betting bybettable scrip.
 147. The method of claim 146, wherein the bettable scripis conditionally bettable.
 148. The method of claim 124, wherein thehouse comprises a casino.
 149. The method of claim 124, wherein thehouse comprises a computer casino.
 150. The method of claim 149, whereinthe player interacts with the computer casino over a data communicationmedium selected from the group consisting of an Internet, an Intranet, acable television network, a telephone network, a wide area network, asatellite network, a short wave radio network, and a combinationthereof.
 151. The method of claim 124, wherein the game of uncertainoutcome comprises a casino game.
 152. The method of claim 124, whereinthe game of uncertain outcome includes an event selected from the groupconsisting of a lottery and a sporting event.
 153. The method of claim124, wherein the game of uncertain outcome comprises a game of chance.154. The method of claim 124, wherein the game of uncertain outcomecomprises a game of skill.
 155. An entrance-exchange structure,comprising: scrip; and an activity of uncertain outcome adapted for atleast one participant, wherein a house is adapted to pay a participantof the at least one participant a takehome in a currency for at leastone potential outcome of the activity of uncertain outcome, based onentrance by the participant in relation to the activity, and wherein thecurrency is selected from the group consisting of cash plus scrip andscrip.
 156. The entrance-exchange structure of claim 155, wherein theactivity comprises a game.
 157. The entrance-exchange structure of claim156, wherein the participant comprises a player.
 158. Theentrance-exchange structure of claim 156, wherein the entrance comprisesa placing of abet.
 159. The entrance-exchange structure of claim 155,wherein the entrance comprises a payment of a fee.
 160. Theentrance-exchange structure of claim 156, where the at least onepotential outcome comprises a win of the game.
 161. Theentrance-exchange structure of claim 156, wherein the game comprises agame of chance.
 162. The entrance-exchange structure of claim 156,wherein the game comprises a game of skill.
 163. The entrance-exchangestructure of claim 155, wherein the entrance comprises an action. 164.The entrance-exchange structure of claim 163, wherein the actionsatisfies one or more criteria.